Newmont (NYSE:NEM) Stock Price Up 1% – What’s Next?

Newmont Corporation (NYSE:NEM) shares traded up 1% during mid-day trading on Friday . The stock traded as high as $106.34 and last traded at $105.7860. 3,784,386 shares traded hands during trading, a decline of 67% from the average session volume of 11,464,480 shares. The stock had previously closed at $104.73.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEM shares. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research note on Friday, December 5th. CIBC set a $112.00 price objective on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Citigroup increased their target price on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price target on the stock. in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $96.37.

Newmont Stock Up 1.0%

The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average price is $90.38 and its 200-day moving average price is $77.49. The stock has a market capitalization of $115.44 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. Analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,240 shares of company stock worth $943,985. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management purchased a new stake in shares of Newmont during the 3rd quarter valued at about $128,000. Sherman Porfolios LLC bought a new position in Newmont during the third quarter valued at approximately $971,000. AIA Group Ltd boosted its holdings in Newmont by 38.7% in the third quarter. AIA Group Ltd now owns 114,828 shares of the basic materials company’s stock worth $9,681,000 after purchasing an additional 32,050 shares during the last quarter. Keel Point LLC grew its position in Newmont by 4.0% in the 3rd quarter. Keel Point LLC now owns 14,138 shares of the basic materials company’s stock worth $1,192,000 after purchasing an additional 548 shares during the period. Finally, Mirabella Financial Services LLP purchased a new stake in Newmont during the 3rd quarter valued at $1,291,000. Institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.